Score Improvement Strategy

[RicHowe]

I signed up for CreditSecure through AMEX to get my FICO08 Scores.
Currently I only have one revolver and one charge card. Only the revolver has posted to the CRAs.

My AMEX Platinum should post by the January 3rd.

My questions are:

Should I see a bump in score when AMEX Platinum finally posts with zero balances for the past two months?
I PTZ before statement closes.
BTW The Delta Platinum posts less than $50 each statement - $5k CL

I've heard that your first 3 revolvers should help your scores as long as you post AZEO. I plan to add two revolvers for a total of 3 by May 2018 along with the charge card.

When I try the simulator, the score drops if I add another revolver. Is this accurate or expected?

Sorry, this post is kind of a mish-mash.

[Anonymous]

You have one credit card and one charge card, both opened recently.  No other accounts of any kind, closed or open.  Is that right?

If yes, I am unclear how it is that you already have FICO scores. You should not have FICO scores until you have had accounts opened for 6+ months.

If no, can you list your accounts and when they were opened (and closed if applicable)?

[Anonymous]

First thing, never trust anything a simulator says. 

Adding another account can cause a temporary score drop due to your AoYA dropping to zero, your AAoA possibly dropping across a threshold and the inquiry taken on with the new account.  Depending on profile, this drop could be minimal, noteworthy, or absolutely nothing depending on where your profile sat both pre/post new account.  Simulators don't take into account nearly enough pieces of data to give a good prediction on these things.

[RicHowe]

So let's see if I can give you a complete picture.

My profile consists of the following

4 - 6 (depending on CRA) CLOSED credit cards from various banks opened in the early 2000's and all closed around 2008/2009. No lates.

1 Auto Installment Loan CLOSED - $36,000 (opened in 2007 - paid off 2012). No lates.

1 PayLease rental installment tradeline (Experian/TransUnion only). 3 months payment activity. No lates.

1 AMEX Delta Platinum Credit Card - $5k limit (Opened 10/2017) $56 balance reported PIF (Pushed 4k thru the card since opening)

1 AMEX Platinum (Opened 11/2017) Not reporting yet (expected to report on/after January 3rd) 0 balance reporting (Pushed 4k thru card since opening)

AAoA - 10.3 years | Oldest Account 14.16 years

Hope that gives enough datapoints.

Should the charge card tradeline affect positively when it posts with 0 Balance for all months of activity?

Between now and May I'll have 1 credit card posting 1% Util and 1 Charge card posting 0 Balances along with the PayLease tradeline (For What it's Worth)

Honestly, I shouldn't even have these AMEX cards. AMEX had to pull all 3 bureaus (EX and TU could not generate score, but for some reason EQ was generating 709 after all that period of inactivity). After Delta card posted CRAs were able to generate scores based on open account activity from Paylease and AMEX.

[Anonymous]

I wouldn't anticipate your score to drop much if at all based on the data above.  Your newest account is only a month or two old, so your AoYA dropping from 1-2 months to 0 would be insignificant.  Also your AAoA both before and after the new account is going to be around 10 years, so you're already in the best zone as far as that goes.  It's possible that whatever points your lost from the inquiry are the only ones you'll lose from the new account.